Biz Briefs: Mortgage settlement deadline today

Biz Briefs: Mortgage settlement deadline today

January 18th, 2013 by Staff Reports and Associated Press in Business Around the Region

Mortgage settlement deadline today

The deadline to file a claim under the national mortgage settlement is today.

About 37,000 Tennessee borrowers who lost their homes to foreclosure between Jan. 1, 2008, and Dec. 31, 2011, may be eligible to receive a payment under the settlement.

But Attorney General Bob Cooper said in a news release that there are still thousands of eligible Tennesseans who have not filed a claim.

Foreclosed Tennessee borrowers who have questions or need help should contact the settlement administrator at (866) 430-8358 or administrator@nationalmortgage

Home loan rates near historic low

The average U.S. rate on a 30-year fixed mortgage inched closer to its record low this week.

Freddie Mac reported Thursday that the average rate on a 30-year fixed rate home loan dropped this week to 3.38 percent, just a fraction above the yearly low of 3.31 percent. The average rate on 15-year fixed rate loans was unchanged this week at 2.66 percent.

The rate on the 30-year fixed mortgage averaged 3.66 percent in 2012, the lowest annual average in 65 years.